Congratulations! Forward a copy of the official award document to the Institutional Grant Writer who will then forward a copy to the Vice President for Academic Affairs.
If budget revisions are necessary they should be made before the implementation of the grant. The Principle Investigator (PI) is responsible for following all relevant OMB circulars, federal laws, state laws and university guidelines; implementing the project; and insuring the programmatic and fiscal compliance for the project. In addition, the PI is responsible for compliance with the grant reporting guidelines as set forth by the granting agency.
If your proposal was denied, view it as an encouragement not a failure. As part of the official letter of denial, you are also likely to receive specific comments regarding your proposals. Use these comments to improve your proposal for the next grant cycle and your chances of success will increase considerably. Be sure to notify the Institutional Grant Writer about the funding agency's decision.